Hyundai enters shared mobility business with Revv

Hyundai has announced a strategic investment and partnership with Revv – India’s self-drive car sharing company – with an aim to grab a larger share in the ever-growing shared mobility business. According to Hyundai, India’s 15,000 car sharing vehicles are expected to grow to 50,000 by 2020, and 150,000 by 2022.

Furthermore, the “millennials”, who are heavy users of car sharing services, comprise 35 percent of the total population of India. The potential growth for mobility services is stronger than that of any other global market.

Without giving away too much details, Hyundai just said that the company will explore ways to support Revv’s car sharing service, including the supply of cars, development of new mobility service platforms, and product marketing. This will allow Indian consumers to experience Hyundai vehicles in diverse ways.

Young Key Koo, Managing Director and CEO of Hyundai Motor India, said – “We are just about to step forward and expand our business into the future mobility with Revv. Hyundai Motor India will build prominent system with both ‘Open Innovation’ strategy and India’s fastest growing self-drive car sharing company, Revv.”

“The mobility industry is going through a dramatic shift globally, with the bulk of the innovation still to come. We want to be at the forefront of creating innovative solutions that can meaningfully shape this shift, and Hyundai Motor will play a crucial part in this mission,” said Anupam Agarwal, Co-founder at Revv.